Near-term macroeconomic effects of successfully navigating the fiscal obstacle course

Budgetary cost (+) or savings (-) (billions) GDP impact
(% GDP)
Employment impact (thousands of jobs)
2013 2014 2013 2014 2013 2014
Job-creation provisions
Emergency Unemployment Compensation $47 $48 0.4% 0.4% 539 524
Aid to state governments 50 40 0.4 0.3 495 378
Infrastructure investment 22 38 0.2 0.3 237 400
Investment in teachers and schools 34 14 0.3 0.1 354 135
Targeted tax rebate 53 0 0.4 0.0 502 0
Total, job-creation provisions $206 $140 1.8 1.2 2,126 1,437
Savings
Upper-income Bush-era tax cuts and estate and gift tax cuts expire -$63 -$74 -0.1% -0.1% -102 -70
Total $142 $66 1.7% 1.1% 2,024 1,367

Notes: All policies are scored relative to EPI's current policy baseline (detailed in the appendix). This table presents the impact in calendar years 2013 and 2014.

Source: Authors' analysis of Congressional Budget Office (2012b; 2012d), Department of Labor (2012), Joint Committee on Taxation (2010), Office of Management and Budget (2012), Moody's Analytics (Zandi 2011a), and Bivens and Fieldhouse (2012a)

View the underlying data on epi.org.